For Steel-tip, you have two options,fixed-point or moveable-point.
Fixed-point: This is where the point is solidly fixed into the dart, it does not move. This is the most common type of dart you will see.

Moveable-point: Guess what, these point's move! There are a number of different varieties on the market, but the theme behind them all is the same, "Help decrease the chance for a bounce-out". When you throw the dart, you want the point to be fully extended. The hope is that if you hit a wire, the back-end (or barrel) will then move forward and force the point into the boards as opposed to letting the dart bounce off the wire and fall to the floor.
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